Manufactured Housing Appraisal/Valuation Course

Course Name

Manufactured Housing Appraisal/Valuation Course

Contact Hours: 24 (an estimated time frame devoted to a course of study from start to finish that can vary from student to student)

Course Description

Successful completion of this course will enable the graduate to prepare for various exams that may lead to becoming a Certified Manufactured Home Appraiser. You will learn to complete appraisals for Bankruptcy Attorneys, testify at bankruptcy hearings, and for other Manufactured Home appraisal purposes. The successful applicant will also be able to work independently or with national field services companies as a certified appraiser. This course will teach the proper use of the NADA Manufactured Home Appraisal Guide. It will also teach the proper and complete valuation methodology developed by others in the industry. Proper court presentations and creation of specialized forms to meet the needs of a variety of clients will also be taught.

Outcome

Upon completion of this course, successful graduates will be able to:

• Know how to properly utilize the NADA Appraisal Guide.
• Complete the physical appraisal inspection and finalize the picture documentation of the property.
• Obtain "comparable pricing" information from area resources.
• Complete all necessary forms in order to complete an appraisal.
• Competently be capable of explaining how to arrive at the appraisal price.
• Work in the industry and build their own business or work for already established field service companies.
  
  

Assessment

• Students will be quizzed after each segment to determine their progress and assess their knowledge of the appraisal format.
• After the final lesson, the student will take a comprehensive exam which shall include the completion of a realistic and hypothetical appraisal.

Outline

Week One: Explanations of terminology of NADA system.

This will include an overview of the introduction of the NADA Guide. Quiz #1.

Week Two: Explanation of how to use the NADA Guide.

This will include worksheets and examples to assess student comprehension of the NADA Guide. Student will also be taught how to complete a physical inspection of a manufactured home and obtain "comparable pricing" in relation to the unit physically inspected. Quiz #2.

Week Three: Introduction of special forms required by Bankruptcy Attorneys for their appraisals.

This lesson focuses on teaching the proper way to complete a variety of applicable forms, with step-by-step field procedures. Quiz #3.

Week Four: Students will be introduced to procedures and policies of testifying in Bankruptcy Court.

Hypothetical situations will be used to simulate court-room appearances. Students will show competency by creating their own or responding to hypothetical case studies. Also, students will be required to go into the field and complete a real appraisal of a Manufactured Home in their area(trial run). Quiz #4.

Week Five: